FYI, sk ---------- From: RicSilver@aol.com Date: Sun, 20 Feb 2005 23:37:12 EST To: RicSilver@aol.com Subject: Caltrain Cuts San Mateo County (CA) Times: http://www.insidebayarea.com/sanmateocountytimes/localnews/ci_2578203 Article Last Updated: 02/19/2005 08:20:09 AM Caltrain faces worst deficit ever with an $11 million shortfall CALTRAIN'S new baby bullet trains are regularly packed and more riders are flocking to the system all the time, but the success belies a stark reality for the rail line: it's in the midst of its worst budget shortfall ever. Caltrain officials put a dollar figure on the defict Friday for the first time. The rail line will likely face a whopping $11 million shortfall next year and the budget reserves it has been using to cushion previous budget shortfalls are all but exhausted. Caltrain will have just $1.4 million in the bank at the end of this fiscal year. Riders will almost certainly be faced with increased fares, less service or both during the next fiscal year, which begins on July 1. The problem, one Caltrain official said, is that there is simply not enough service to cut and no fare increase big enough to close that yawning deficit. "To give this some perspective, we are not looking at a doomsday scenario," said Jayme Maltbie Kunz, a Caltrain spokeswoman. "The options that we are looking at may hurt a little." Caltrain official Mark Simon said the system is looking at all its options -- including layoffs -- but it is too soon to tell exactly where the cuts might come. Caltrain's problem is the San Mateo, San Francisco and Santa Clara County transit agencies that fund roughly half of Caltrain's budget have frozen their contributions for the last four years because of their own budget problems. Caltrain will announce a more detailed budget cutting plan at its March meeting. Stay tuned ...